i-flex Q1 net profit drops 5%

By SiliconIndia   |   Thursday, 31 July 2003, 07:00 Hrs
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BANGALORE: IT solutions provider i-flex solutions on Thursday reported a five per cent drop in net profit for the quarter ended June 30, 2003, at Rs 38.11 crore compared with the corresponding period of the last fiscal (Rs 40.07 crore).
Revenues, however, jumped by 32 per cent at Rs 183.43 crore from Rs 138.82 crore, according to a company statement.

The company said it added nine new Flexcube customers during the Q1, with the Flexcube cumulative customer count crossing 150. Flexcube, it said, was an end-to-end product suite for consumer, corporate, investment and Internet banking, asset management, and investor servicing.

It reported acquiring six new customers for the PrimeSourcing Line of Business during April-June 2003.

PrimeSourcing, the company said, offers customised application development, reengineering and maintenance; testing and product support and system integration services through various onsite/off-shore delivery models.

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